The Federal Bank Ltd approves borrowing, raising of funds

Posted On:
2019-06-13 14:27:44

The Board of Directors of the Bank has approved the borrowing / raising of funds by way of issuance of debt securities including but not limited to nonconvertible debentures, Tier II bonds, Long Term Bonds (Infrastructure & Affordable Housing), Masala Bonds, Green bonds or such other debt securities as may be permitted by RBI from time to time, in Indian Currency, in domestic market and / or overseas market under one or more shelf disclosure document and / or under one or more letter of offers as may be issued by the Bank and in one or more tranches, on a private placement basis as per the agreed structure and within the limits permitted by RBI and other regulatory authorities subject to the approval of shareholders at the forthcoming Annual General meeting.

Shares of FEDERAL BANK LTD. was last trading in BSE at Rs.105.15 as compared to the previous close of Rs. 107.45. The total number of shares traded during the day was 203640 in over 851 trades.

The stock hit an intraday high of Rs. 107.25 and intraday low of 104.95. The net turnover during the day was Rs. 21553677.